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STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenues    
Policy charge revenue $ 37,207 $ 37,476
Net investment income (loss) 23,997 27,944
Net realized investment gains (losses)    
Net realized investment gains (losses), excluding other-than-temporary impairment losses on securities 11,774 31
Net realized investment gains (losses) 11,774 31
Net derivative gains (losses) (10,866) (24,228)
Total Revenues 62,112 41,223
Benefits and Expenses    
Interest credited to policyholder liabilities 15,733 12,983
Policy benefits (net of reinsurance recoveries: 2017 - $1,708; 2017 - $415) 22,217 (9,490)
Amortization (accretion) of deferred policy acquisition costs 1,290 1,132
Amortization (accretion) of value of business acquired 2,919 2,364
Insurance, General and Administrative Expenses 7,461 8,843
Total Benefits and Expenses 49,620 15,832
Income (Loss) Before Taxes 12,492 25,391
Income Tax Expense (Benefit) 527 575
Net Income (Loss) $ 11,965 $ 24,816